Welcia Holdings Co., Ltd. (TSE:3141) agreed to acquire a 76.3% stake in Kokumin Co., Ltd. from Sankin Co., Ltd., French Co., Ltd., Kazumi Kinumaki, Hidenobu Kinumaki and Nobutaka Kinumaki and other shareholders on January 18, 2022. In a related transaction, Welcia Holdings agreed to acquire French Co., Ltd. from Sankin Co., Ltd. on January 18, 2022. For the year ended April 2021, Kokumin reported Net assets of ¥19.

4 billion, Total assets of ¥36.3 billion, Sales of ¥39.8 billion, operating loss of ¥2.7 billion, Net loss of ¥2.6 billion. The transaction is expected to complete on June 1, 2022.